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Fannie Mae videos promote foreclosure alternatives

WaysHome dramatizations let distressed owners play out options

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Fannie Mae has launched an interactive video simulation tool to inform struggling homeowners about their options to avoid foreclosure. Called WaysHome, the tool is part of, a new consumer site Fannie Mae set up for homeowners who are underwater or having trouble paying their bills or mortgage payments. "In 2011, an estimated 4 million homes will be at imminent risk of foreclosure. As we enter a new year, the company is expanding its efforts to help struggling homeowners avoid foreclosure -- WaysHome is an innovative tool to help achieve this goal," said Jeff Hayward, Fannie Mae's senior vice president, in a statement.Site users follow actors who play three residents of a neighborhood: Richard Lane, who is delinquent on his mortgage and thinking about leaving his home; Jackie Williams who is struggling to keep up with her mortgage payments; and Miguel Gonzalez, who is underwater and thinking about refinancing. Users help them make decisions, and i...